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Posted on Monday, January 28, 2013

India continues to be in focus for management graduates across the world. Faculty and students from UCLA’s Fully Employed MBA programme recently visited on a week long study programme. Gauri Rane finds out more

While employment opportunities in many countries continue to be on uneven grounds, options for management graduates from top B-schools across the world remain very strong. Keeping in mind the ever increasing demand for global managers ready to find solutions to business problems across the world, B-schools are setting up special capsule programmes for students to understand world economies. “Our trip to India was the capstone of a course on business environment of India. This course is a part of an innovative series of courses that have been specially designed to teach students about doing business in a wide range of countries, especially emerging markets,” says Romain Wacziarg, professor of economics at UCLA. In the past, students of the FEMBA have visited countries like China, Chile and South Korea to understand the economy of that country. “The focus on India is inevitable thanks to the demographic importance it has in the world, it’s high rate of GDP growth, the growth of its consumer-oriented middle class, its expanding financial sector, its entrepreneurial spirit and the thirst for management skills,” informs Wacziarg.

“Most of the attention India has received lately has been positive. With half its population below the age of 26 when China and most of the developed world is dealing with aging populations, strong education system and the largest English speaking population in the world, India presents an incredible opportunity to business and entrepreneurs everywhere,” says Harish Aneja, currently pursing MBA at UCLA Anderson.

“However,” he adds “Indian government's approach to reforms has been uneven. Opening up retail, insurance and aviation sectors to foreign investment on one hand and proposing retroactive taxes and curbs on import of technology products on the other indicate that India is not serious about attracting foreign investors.”

What is the Fully Employed MBA?
UCLA’s Fully Employed MBA programme (FEMBA) takes three years instead of the usual two to accommodate the student’s professional activities. Apart from the duration, Professor Wacziarg insists the FEMBA is indistinguishable from the university’s full time MBA programme. “In the FEMBA programme, classes take place in the evenings and on weekends to accommodate work schedules. Students take the same courses and have access to the same electives, the same wide network of alumni and career services that UCLA Anderson offers, and receive the same MBA degree,” he informs.

In addition, the programme features specific innovations such as the international study trips as well as the Global Access Programme, whereby FEMBA students spend six months working with international companies to solve a range of business problems. In keeping with the digital learning wave, UCLA has introduce a pilot hybrid FEMBA section, starting this year. It combines online education with periodic weekend visits to the UCLA campus.
International MBA – the future.

According to Aneja, “The global economic climate requires adaptability on the part of MBA candidates everywhere. International MBA helps in three ways: identifying opportunities that exist in international markets, innovations in the growth markets that may be adapted and leveraged in other parts of the world and lessons in keeping operating expenditure low and increasing the marginal revenues.”

Most corporations are becoming increasingly globalised, and function without regard for borders. “Those MBA graduates who additionally are familiar with the global context of business and are able to develop detailed knowledge of specific international markets will have an extra advantage over those with a more domestic focus,” feels Wacziarg. He informs that the rate of return to the FEMBA programme is especially high because the students do not have to leaving their jobs to attend school, as full time MBAs do. Economic conditions may vary from year to year, but that the return to advanced management degrees remains high whatever the stage in the business cycle. He conclude, “A downturn is a great time to go to school since it minimizes the risk of missing out on great employment opportunities.”